Exhibit 10.1

                       SUBORDINATED DEMAND PROMISSORY NOTE
                       -----------------------------------

                                                                   June 30, 2008

         FOR VALUE RECEIVED, the undersigned, RONSON CORPORATION, a New Jersey
corporation ("Maker"), HEREBY PROMISES TO PAY to the order of LOUIS V. ARONSON
II, an individual (together with his successors and assigns, "Holder"), the sum
of $225,000, together with any accrued but unpaid interest thereon (the "Loan")
made by Holder to Maker. Interest shall be payable on the principal amount of
this Note at the Interest Rate set forth herein.

         1. Definitions. Capitalized terms but not defined herein shall have the
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meaning ascribed to them in the Credit Agreement (as hereinafter defined). For
purposes of this Note, the following terms have the meanings set forth below:

         "Credit Agreement" means that certain Credit and Security Agreement
dated as of the date hereof among Maker, Holder and Ronson Aviation, Inc., as
borrowers, Ronson Corporation, as guarantor, and Wells Fargo Bank, National
Association, as Lender ("WF"), as the same may be amended, restated,
supplemented or otherwise modified from time to time.

         "Interest Rate" means the prime rate of Wachovia Bank, National
Association less 50 basis points.

         "Note" shall mean this Subordinated Demand Promissory Note as
originally executed or if later amended, modified or supplemented, then, as so
amended, modified or supplemented.

         "Note Obligations" shall mean all principal, interest (including
interest which accrues after the commencement of any case or proceeding in
bankruptcy, or for the reorganization of Maker), if any, fees, charges,
expenses, attorneys' fees and any other sum chargeable to Maker under this Note,
and all principal and interest, if any, due in respect of the Loan.

         2. Payments. This Note may be prepaid at any time in whole or in part
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from time to time without penalty or premium. The principal and interest of this
Note is payable in lawful money of the United States of America and in same day
funds, without abatement, reduction, deduction, counterclaim recoupment, defense
or setoff, to Holder at such account as Holder may designate. Accrued, but
unpaid, interest shall be payable in full at maturity. The Loan made by Holder
to Maker, and all payments made on account of principal thereof, shall be
recorded by each of Holder and Maker on its respective books and records.

         3. Holder Rights. Upon demand for payment hereunder, Holder is hereby
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authorized at any time and from time to time, to the fullest extent permitted by
law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final) at any time held and other indebtedness at any
time owing by Holder to or for the credit or the account of Maker against any
and all of the obligations of Maker now or hereafter existing under this Note,
irrespective of whether or not Holder shall have made any demand under this Note
and although such obligations may be unmatured. Holder agrees promptly to notify
Maker after any such set off and application, provided that the failure to give
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such notice shall not affect the validity of such set off and application. The
rights of Holder under this Section are in addition to other

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rights and remedies (including, without limitation, other rights of set off)
which Holder may have.

         4. Waiver. Except as otherwise provided for in this Note, and to the
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fullest extent permitted by applicable law, Maker waives presentment, notice,
demand and protest, and notice of presentment, dishonor, intent to accelerate,
acceleration, protest, default, nonpayment, maturity, release, compromise,
settlement, extension or renewal of this Note at any time held by Holder on
which Maker may in any way be liable. Maker acknowledges that it has been
advised by counsel of its choices and decisions with respect to this Note and
the transactions evidenced hereby. No failure or delay on the part of Holder in
the exercise of any power, right or privilege hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any such power,
right or privilege preclude other or further exercise thereof or of any other
right, power or privilege. All rights and remedies existing hereunder are
cumulative to, and not exclusive of, any rights or remedies otherwise available.

         5. Lost or Destroyed Note. Upon receipt by Maker of evidence reasonably
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satisfactory to Maker of the loss, theft, destruction or mutilation of this
Note, and in the case of any such loss, theft or destruction, upon delivery of
an indemnity reasonably satisfactory to Maker or, in case of any such
mutilation, upon surrender and cancellation of this Note, Maker will issue a new
Note of like tenor in lieu of this Note.

         6. Severability. Wherever possible, each provision of this Note shall
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be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Note shall be prohibited by or invalid under
applicable law, such provision shall be ineffective to the extent of such
prohibition or invalidity, without invalidating the remainder of such provision
or the remaining provisions of this Note.

         7. Amendment and Modification. Each of Maker and Holder agrees that no
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change, waiver, modification or amendment of this Note shall be effective
without the prior written approval of WF. Subject to applicable law, Holder
agrees not to take any action, enter into agreement or perform any activity with
respect to this Note and the Loan evidenced hereby, except as required or
previously approved in writing by WF.

         8. Costs and Expenses. Maker agrees to pay on demand all costs and
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expenses, if any, including reasonable counsel fees and expenses, in connection
with the enforcement (whether through negotiations, legal proceedings or
otherwise) of this Note.

         9. GOVERNING LAW. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
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ACCORDANCE WITH THE LAWS OF THE STATE OF NEW JERSEY (WITHOUT GIVING EFFECT TO
ITS CONFLICTS OF LAW PRINCIPLES).

         10. Successors and Assigns. This Note shall be binding upon Maker and
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its successors, and shall inure to the benefit of Holder and its successors and
permitted assigns (including WF).

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<PAGE>

                                  RONSON CORPORATION


                                  By:      /s/ Louis V. Aronson II
                                           -------------------------------------
                                  Name:    Louis V. Aronson II
                                  Title:   President and Chief Executive Officer





           THIS INSTRUMENT IS SUBJECT TO THE TERMS OF A SUBORDINATION
         AGREEMENT BY LOUIS V. ARONSON II IN FAVOR OF WELLS FARGO BANK,
                   NATIONAL ASSOCIATION, DATED JUNE 30, 2008.



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